CA extends freeze order on Aman bank accounts

by Ina Reformina, ABS-CBN News

MANILA, Philippines (UPDATE) - The Court of Appeals (CA) has extended for 6 months the 20-day freeze order it handed down on the bank accounts of officers of Aman Futures Group Philippines.

The appellate court's Fourth Division granted the extension sought by the Anti-Money Laundering Council (AMLC) after Monday's hearing solely intended to "determine whether or not the instant freeze order shall be modified, lifted or extended."

The AMLC petitioned for the issuance of a freeze after it established probable cause that “the acts of respondent Amalilio and his co-horts in defrauding and misappropriating funds solicited from the general public constituted syndicated estafa.”

The AMLC’s move was in response to a formal request from the National Bureau of Investigation (NBI) for all pertinent data on the bank accounts of respondents.

The original order was issued on November 20, which is supposed to expire December 10.